Fund Statistics (Class A)

The Fund

Davis Global Fund is a portfolio of attractive businesses from around the world, selected using the time-tested Davis Investment Discipline.

The Fund has outperformed the index since its inception in 2004 and has lower than average expenses.

Davis is one of the largest shareholders of the Fund.

Why Invest in the Davis Global Fund

A Portfolio of Well-Researched Businesses from Around the Globe: Companies with attractive long term growth prospects, from the U.S. & abroad, in both developed and developing markets

Signature Davis Investment Discipline: Utilizes a time-tested strategy that has successfully compounded wealth for more than 45 years, in both U.S. and non-U.S markets. Focuses on identifying attractive businesses with sustainable competitive advantages and experienced managements, selling at a discount to their true value.

Performance as of 6/30/19

The Davis Global Fund has outperformed the MSCI ACWI® Index since inception (12/22/04).1

Total Returnsas of June 30, 2019

YTD*

1Year

3Years

5Years

10Years

Since12/22/04

Davis Global Fund Class A shareswithout a sales charge

18.74%

-6.43%

10.96%

6.11%

10.91%

7.59%

with a maximum 4.75% sales charge

13.10%

-10.87%

9.18%

5.08%

10.38%

7.23%

MSCI ACWI® Index

16.23%

5.74%

11.62%

6.16%

10.15%

6.55%

*YTD is not annualized.

The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s shares may be worth more or less than their original cost. The Fund is subject to a 2% short-term redemption fee for shares held for fewer than 30 days. The total annual operating expense ratio for Class A shares as of the most recent prospectus was 0.96%. The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Current performance may be higher or lower than the performance quoted. For most recent month-end performance, click here or call 800.279.0279.

Portfolio Characteristics
as of 6/30/19

Top 10 Industries

Global Fund

MSCI ACWI® Index

Retailing

25.5%

5.1%

Banks

13.5%

9.0%

Consumer Services

9.7%

1.8%

Diversified Financials

8.8%

3.9%

Media & Entertainment

8.3%

5.8%

Capital Goods

8.1%

7.1%

Information Technology

7.2%

16.0%

Transportation

7.0%

2.2%

Insurance

4.3%

4.0%

Energy

4.2%

5.9%

Geographical Diversification

Asia

41.9%

United States

33.5%

Europe

11.4%

Africa

5.8%

North & Central America ex US

4.5%

South America

2.9%

Portfolio Composition

Global Fund

MSCI ACWI® Index

Number of Holdings

46

2,847

Median Market Cap ($bn)

12.7

9.5

Weighted Average Market Cap ($bn)

167.3

152.7

Forecast P/E Ratio

12.2

15.5

Top 10 Holdings

New Oriental Education & Technology

China

Largest provider of private education services in China

9.3%

Alibaba Group Holding Ltd., ADR

China

The world’s largest and most valuable retailer, with operations in over 200 countries and a dominant position in the e-commerce market

5.9%

Naspers, Class N

South Africa

A media conglomerate that operates a leading pay television business in South and Sub-Saharan Africa and holds interests in a range of e-commerce businesses around the world

5.6%

Alphabet Inc.

United States

The dominant global online search and advertising company

5.1%

Wells Fargo & Co.

United States

One of the largest banks in the U.S.

4.6%

Amazon.com, Inc.

United States

An e-commerce giant within the retail industry

4.2%

Ferguson PLC

United Kingdom

Largest U.S. wholesale distributor of plumbing, heating, and water products.

4.1%

Missfresh, Ltd., Series E

China

An e-Commerce startup that delivers fresh produce through a subscription service

This material must be accompanied or preceded by a current Davis Global Fund Prospectus. You should carefully consider the Fund’s investment objective, risks, charges, and expenses before investing.The prospectus contains this and other information and can be obtained by clicking here or calling 800.279.0279. Read the prospectus carefully before you invest or send money.

1 Class A shares without a sales charge. Past performance is not a guarantee of future results.

3 As of June 30, 2019. This includes Davis Advisors, the Davis family and Foundation, our employees, and Fund Directors.

4 See Expense ratio/Turnover link below.

^^ Class A shares without a sales charge. Past performance is not a guarantee of future results.